Elliott Statement on Aspen Technology, Inc.
Elliott Investment Management, managing funds with over $1.5 billion investment in Aspen Technology (NASDAQ: AZPN), has issued a statement criticizing Emerson Electric's tender offer for remaining AspenTech shares. Elliott strongly opposes the acquisition attempt, characterizing it as a conflicted and deeply flawed process that resembles an opportunistic minority squeeze-out.
The investment firm argues that Emerson's public statements and actions leading to the tender offer demonstrate coercive intent toward minority stockholders. Elliott has declared the transaction unfair and plans to pursue all appropriate remedies against Emerson.
Elliott Investment Management, gestore di fondi con oltre 1,5 miliardi di dollari investiti in Aspen Technology (NASDAQ: AZPN), ha emesso una dichiarazione criticando l'offerta pubblica di acquisto di Emerson Electric per le rimanenti azioni di AspenTech. Elliott si oppone fermamente al tentativo di acquisizione, definendolo un processo conflittuale e profondamente difettoso che somiglia a un'uscita opportunistica di una minoranza.
La società di investimento sostiene che le dichiarazioni pubbliche e le azioni di Emerson che hanno portato all'offerta mostrano un'intenzione coercitiva nei confronti degli azionisti di minoranza. Elliott ha dichiarato la transazione ingiusta e prevede di perseguire tutte le azioni legali appropriate contro Emerson.
Elliott Investment Management, que gestiona fondos con más de 1.5 mil millones de dólares invertidos en Aspen Technology (NASDAQ: AZPN), ha emitido un comunicado criticando la oferta pública de adquisición de Emerson Electric por las acciones restantes de AspenTech. Elliott se opone firmemente al intento de adquisición, caracterizándolo como un proceso conflictivo y profundamente defectuoso que se asemeja a una exclusión oportunista de minorías.
La firma de inversión argumenta que las declaraciones públicas y las acciones de Emerson que llevaron a la oferta demuestran una intención coercitiva hacia los accionistas minoritarios. Elliott ha declarado que la transacción es injusta y planea buscar todos los recursos legales apropiados contra Emerson.
엘리엇 투자 관리(Elliott Investment Management)는 15억 달러 이상의 아스펜 테크놀로지(Aspen Technology, NASDAQ: AZPN)에 대한 투자를 관리하며, 에머슨 일렉트릭(Emerson Electric)의 아스펜텍(AspenTech) 남은 주식에 대한 공개 매수 제안에 대해 비판하는 성명을 발표했습니다. 엘리엇은 이 인수 시도를 갈등이 있고 심각하게 결함이 있는 과정으로 간주하며 강력히 반대하고 있습니다.
투자 회사는 에머슨의 공개 성명과 행동이 공개 매수 제안으로 이어지면서 소수 주주에 대한 강압적 의도를 보여준다고 주장합니다. 엘리엇은 이 거래가 불공정하다고 선언하며 에머슨에 대해 모든 적절한 구제책을 추구할 계획입니다.
Elliott Investment Management, qui gère des fonds avec plus de 1,5 milliard de dollars investis dans Aspen Technology (NASDAQ: AZPN), a publié une déclaration critiquant l'offre publique d'achat d'Emerson Electric pour les actions restantes d'AspenTech. Elliott s'oppose fermement à cette tentative d'acquisition, la qualifiant de processus conflictuelle et profondément défaillant qui ressemble à une éviction opportuniste des minorités.
La société d'investissement soutient que les déclarations publiques et les actions d'Emerson qui ont conduit à l'offre montrent une intention coercitive envers les actionnaires minoritaires. Elliott a déclaré que la transaction était injuste et prévoit de poursuivre tous les recours juridiques appropriés contre Emerson.
Elliott Investment Management, das Fonds mit über 1,5 Milliarden Dollar Investitionen in Aspen Technology (NASDAQ: AZPN) verwaltet, hat eine Erklärung veröffentlicht, in der das Übernahmeangebot von Emerson Electric für die verbleibenden AspenTech-Aktien kritisiert wird. Elliott lehnt den Übernahmeversuch entschieden ab und bezeichnet ihn als konfliktbeladenen und zutiefst fehlerhaften Prozess, der einer opportunistischen Ausschlussstrategie von Minderheitsaktionären ähnelt.
Die Investmentgesellschaft argumentiert, dass die öffentlichen Erklärungen und Handlungen von Emerson, die zu dem Übernahmeangebot führten, eine Zwangsabsicht gegenüber den Minderheitsaktionären demonstrieren. Elliott hat die Transaktion als unfair erklärt und plant, alle geeigneten rechtlichen Schritte gegen Emerson einzuleiten.
- None.
- Major shareholder Elliott ($1.5B stake) opposes Emerson's tender offer
- Potential legal challenges could delay or complicate the acquisition process
- Concerns about minority shareholder rights and fair valuation in the tender offer
Insights
This confrontational statement from Elliott Investment Management, wielding a
The accusations of a 'conflicted and deeply flawed process' are particularly noteworthy given Elliott's track record of successfully intervening in M&A transactions. Their characterization of the offer as an 'opportunistic minority squeeze-out' typically indicates a belief that the timing and pricing of the deal significantly undervalue the target company.
Several critical implications emerge from this development:
- The threat of 'pursuing all appropriate remedies' suggests potential legal challenges that could significantly delay or derail the transaction
- Elliott's substantial position gives them significant leverage to influence other shareholders and potentially block the deal
- The public nature of this opposition likely puts pressure on Emerson to either improve its offer or provide more compelling justification for the current terms
- This situation could attract other activist investors or arbitrageurs, potentially complicating the deal dynamics further
Historical precedents in similar activist-opposed squeeze-outs suggest three potential outcomes: a higher offer price to appease minority shareholders, a protracted legal battle leading to deal modifications, or the possibility of the transaction being abandoned entirely. The aggressive tone of Elliott's statement suggests they believe they have strong grounds to challenge the deal's fairness, which could force Emerson to reassess its approach.
"Emerson's proposal to acquire AspenTech is clearly the result of a conflicted and deeply flawed process, bearing all the hallmarks of an opportunistic minority squeeze-out. Furthermore, Emerson's public statements and actions leading up to the commencement of the Tender Offer underscore its coercive intent toward minority stockholders.
This transaction is unfair to minority stockholders, and we intend to pursue all appropriate remedies against Emerson."
About Elliott
Elliott Investment Management L.P. (together with its affiliates, "Elliott") manages approximately
Media Contact
Alice Best
Elliott Advisors (
T: +44 203 009 1715
abest@elliottadvisors.co.uk
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SOURCE Elliott Investment Management L.P.
FAQ
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